Bank of New York Mellon Corp Sells 26,478 Shares of Brookfield Co. (NYSE:BN)

Bank of New York Mellon Corp reduced its stake in shares of Brookfield Co. (NYSE:BN) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,408,969 shares of the company’s stock after selling 26,478 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of Brookfield worth $100,069,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BN. Fortis Group Advisors LLC grew its stake in shares of Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after buying an additional 337 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Family Firm Inc. purchased a new stake in shares of Brookfield in the second quarter valued at approximately $36,000. Salem Investment Counselors Inc. purchased a new stake in shares of Brookfield in the first quarter valued at approximately $42,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Brookfield by 161.8% in the first quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock valued at $44,000 after purchasing an additional 647 shares during the period. 61.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BN shares. TD Securities upped their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reduced their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank upped their price target on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.88.

Brookfield Trading Down 0.7 %

Shares of Brookfield stock opened at $49.46 on Thursday. The firm has a market capitalization of $81.30 billion, a PE ratio of 81.08 and a beta of 1.52. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $50.17. The firm’s 50-day moving average price is $45.18 and its 200 day moving average price is $42.88. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $0.75 EPS. The business’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the sale, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.00% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.